Top 10 Banks for Startups: Founders and VCs Share Their Picks

Business Insider asked 15 investors and founders to nominate the best banks for startups in 2025. The top 10 banks emerged from their picks as top partners for commercial banking, debt lending, capital raises, M&A, and IPOs. The list includes Allen & Company for M&A and fundraising, Goldman Sachs for debt and equity financing, and Morgan Stanley for capital markets and M&A. Other top banks include J.P. Morgan for M&A and capital markets, Bank of America for debt lending, and Citi for M&A and capital markets. The picks ranged from early-stage commercial banking partners to IPO-focused heavyweights.

Business Insider recently polled 15 investors and founders to identify the best banks for startups in 2025. The top 10 banks emerged from their picks as top partners for commercial banking, debt lending, capital raises, M&A, and IPOs. Here is a detailed look at the top banks, their specialties, and why they are favored by the startup community.

Allen & Company
- Best for: M&A and fundraising
- Why it's on the list: Allen & Company, a boutique investment bank founded in the early 1920s, is known for its deep network in tech, media, and finance. Its annual Sun Valley Conference, often referred to as the "summer camp for billionaires," is a key event where deal talks abound. The bank's secretive nature and singular focus on nurturing industry relationships have kept it in the flow of hot M&A deals and occasional venture fundraises [1].

Axom Partners
- Best for: Small to midsize sell-side M&A
- Why it's on the list: Axom Partners, started by former Qatalyst bankers, has made a name for itself by leading software and AI deals. The bank has advised on several notable deals, such as Eppo's $220 million sale to Datadog and VoyageAI's $220 million sale to MongoDB. Its focus on AI infrastructure and application companies has positioned it as a go-to for tech-focused startups [1].

Citi
- Best for: International commercial banking
- Why it's on the list: Citi's extensive global network, covering nearly 180 countries with an on-the-ground presence in over 90 countries and jurisdictions, makes it a valuable partner for startups with international footprints. The bank's services can help startups manage bills and payroll across multiple countries more efficiently [1].

Goldman Sachs
- Best for: IPOs and large M&A
- Why it's on the list: Goldman Sachs, with over 150 years of experience, is a trusted partner for top tech companies seeking IPOs. Its brand and network with public investors make it skilled at connecting pre-IPO companies with the right investors. The bank has served as a bookrunner on several high-profile IPOs and advised on large M&A deals [1].

JPMorgan Chase
- Best for: Growth-stage banking and IPOs
- Why it's on the list: JPMorgan Chase, the largest bank in the US by market cap, is adept at managing large transactions, especially initial public offerings. The bank's full suite of commercial and investment banking services makes it a versatile partner for startups. JPMorgan Chase has seen significant growth in startups working with it post-Silicon Valley Bank's collapse in 2023 [1].

Mercury Technologies
- Best for: Commercial banking
- Why it's on the list: Mercury, a fintech platform providing online banking services, has gained traction with startups due to its user-friendly interface and tools for automating financial tasks. The company's venture-backed status and seamless integrations with other fintech software make it a preferred choice for startups [1].

Morgan Stanley
- Best for: IPOs and large M&A
- Why it's on the list: Morgan Stanley is a key player in large M&A and IPOs, particularly in the tech sector. The bank's high-quality tech investment banking team has successfully advised on several tech IPOs this year, including Figma, CoreWeave, Chime, and Hinge Health. Morgan Stanley's understanding of private companies and ability to create resonant narratives for public investors make it a top choice for tech startups [1].

References
- [1] https://finance.yahoo.com/news/10-best-banks-startups-according-090001839.html